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HB 311

DISTRICTS/ECONOMIC DEVEL: Provides relative to the St. Landry Parish Economic and Industrial Development District

2025 Regular Session Introduced by Dustin Miller

HB 311 offers tax credits to Florida employers who help first-time homebuyers with up to $5,000 for down payments, boosting homeownership and local economies.

Withdrawn prior to introduction.
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Bill Summary · HB 311

Summary of HB 311: Tax Credits for Contributions to Assist Homebuyers

Bill Information:
- Bill Number: HB 311
- Title: Tax Credits for Contributions to Assist Homebuyers
- Status: Now in Ways & Means Committee
- Introduced: November 04, 2025
- Classification: Bill
- Subject: Taxation and Finance

Purpose and Intent

HB 311 aims to provide tax credits to employers who contribute financially to assist their employees in purchasing homes. The bill seeks to promote homeownership among eligible employees, particularly those who have not owned a home in Florida before, by alleviating some of the financial burdens associated with home buying.

Key Provisions

The bill introduces a new section, s. 212.1836, F.S., which includes the following provisions:

  1. Definitions:

    • Eligible Employee: A person who has established permanent residency in Florida and has not previously owned a home in the state.
    • Eligible Expenses: Costs related to a home purchase, including down payments and closing costs.
    • Eligible Taxpayer: An employer who has operated in Florida for at least three consecutive years.
    • Employer Contribution: A monetary contribution of at least $1,000 made by an employer to assist an eligible employee.

  2. Tax Credit Amounts:

    • Employers can receive a tax credit for 100% of their contributions to eligible employees, capped at $5,000 per employee.
    • Employers can also receive a tax credit for contributions made to government programs that assist with down payments, such as the Florida Hometown Hero program.

  3. Application Process:

    • Taxpayers must submit an application to the Department of Revenue to receive the tax credit.
    • Applications will be approved on a first-come, first-served basis.

  4. Fiscal Year Limits:

    • The bill authorizes a total of $5 million in tax credits for each of the fiscal years 2026-2027, 2027-2028, and 2028-2029.

  5. Carryforward Provisions:

    • Unused tax credits can be carried forward for up to three taxable years if not fully utilized in the year they were approved.

  6. Restrictions:

    • Tax credits cannot be sold, transferred, or assigned to another entity.

  7. Regulatory Authority:

    • The Department of Revenue is empowered to adopt necessary rules for the administration of this section.

  8. Repeal Clause:

    • The section is set to be repealed on January 1, 2030, unless it is reviewed and reenacted by the Legislature.

Impact

The bill is expected to benefit:
- Employers: By providing financial incentives to assist employees in home purchases.
- Employees: Particularly first-time homebuyers who may struggle with down payments and closing costs.
- Local Housing Markets: By potentially increasing homeownership rates and stimulating economic activity related to housing.

Timeline

  • Effective Date: The provisions of this act will take effect on July 1, 2026.
  • Legislative Actions: The bill has been referred to multiple committees, including the Ways & Means Committee, since its introduction.

This summary provides an overview of HB 311, highlighting its purpose, key provisions, and potential impact on homebuyers and employers in Florida.

Compiled from official sources — confirm details with the bill’s official record.

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